Shipping rates rise for a fourth straight week on US routes
Shipping costs from Asia to the US keep climbing, which is good news for container shipping lines but adds cost pressure for importers.
- The main Shanghai export shipping rate index rose again this week, its fourth straight weekly gain.
- Rates to the US West Coast and US East Coast both went up, with the East Coast leading.
- Rates to Europe and the Mediterranean fell, so the strength is mostly on US routes.
- Southeast Asia routes jumped the most, up about 8% in a week.
- Trouble in the Red Sea and the Strait of Hormuz is keeping ships on longer routes and holding rates high.
Outlook: Rates are expected to stay strong through the summer peak season, and even if they ease later this year, a sharp collapse looks unlikely unless the shipping-lane disruptions clear up.